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Litecoin (LTCUSD) Elliott wave analysis update: 4hr tf

My previous post for Litecoin (LTCUSD) can be found here:

It was mentioned in the post that a move back upwards for Litecoin (LTCUSD) would terminate between $152.13 and $158.19 before another sell off in Litecoin (LTCUSD).  Lack of recovery to the region of the horizontal green lines as mentioned in the previous post is interpreted to be a minute wave ((x)) for Litecoin (LTCUSD).

Elliott wave analysis of Litecoin (LTCUSD)

The implication of the above is that a minute wave ((y)) is currently on for Litecoin (LTCUSD) so selling should continue. Litecoin (LTCUSD) at the time of this post has broken just below Support 2 as given in the previous post (and also shown here).

Any recovery from this support is expected to be weak as shown by the blue arrow on the chart and the next trajectory indicated by the red arrow. The point of invalidation (POI) for this analysis is placed just above the high made on May 21, 2018 of ~$140.32.

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